Understanding the Market

The real estate market is constantly changing. When you're making the decision to sell your home, It helps to have a good idea of current market conditions. There are times when it may be a good idea to put off selling your home for a period of time, until market conditions become more favourable.

Market conditions can be broken down into three categories:

A Seller's Market is when the number of buyers exceeds the number of homes on the market. This obviously the most favourable market condition when it comes to selling your home. During these intense periods where the market is favourable to Sellers, you can expect to have a greater number of competing offers and more leverage in terms of negotiating a higher selling price for your home.

A Buyer's Market is when the supply of homes on the market is greater than the demand for properties. During periods where the market is favourable to Buyers, Your home may take longer than expected to sell, and you may have less leverage in terms of negotiating the selling price of your home.

A Balanced Market is when the number of homes on the market is equal to the number of buyers. During Balanced Market conditions, you can expect your home to sell in a reasonable amount of time and for a fair price.

As your REALTOR, I will assess the market condition of your property and work with you choose the ideal time to place your property on the market.